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Wesfarmers 2017 Full Year Accounts

Wesfarmers Limited today announced their retail sales results for the full year 2017.

Bunnings United Kingdom and Ireland (BUKI) reported a loss before interest and tax of £54 million ($89 million) and revenue of £1,229 million ($2,072 million) in the first full financial year since the acquisition of Homebase in February 2016.

“While significant transition, separation and integration activity was undertaken throughout the year to progress the acquisition agenda, the volume and pace of repositioning Homebase affected store execution and consequently trading performance,” Mr Goyder said. “The first four Bunnings pilot stores were opened during the year, and early indications are that the format is resonating well with customers.”